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Ceitec Receives Maximum Certification in Governance Indicator
The Level 1 certification is the highest granted by Brazil's Ministry of Planning, Development and Management, from which the company obtained a grade of 9.46.
For Ceitec's president, potential customers can now be more effective and secure in their initial chip solution deployment processes, while national and international partners, as well as other suppliers, can have greater confidence that such markets have become a reality. "The country today does not have the capacity to meet its potential demand," Luna states. "Companies that have gone forward in the past to meet seemingly reliable and short-term demands have seen their investments turn into dust, and they do not want to go wrong again."
"So perhaps Ceitec may be a major player in building a new moment for the country, in which microelectronics technologies in general and RFID in particular are eventually appropriated by society and value chains," Luna says. "Significant participation of national companies are being consolidated in order to guarantee the necessary capacity to support the process of recovering the lost time."
In order for the market to recognize Ceitec as being able to play this role, Luna says, it is necessary for the market to trust the company. The Certification of Excellence in Governance certification—IGS-EST Level 1 fuels this confidence, he adds. Ibanez Filter, the director of Governance, Risk and Compliance, affirms that "since the beginning of the indicator's measurement, Ceitec has been evolving continuously, having moved from Level 4 to Level 1—the best that can possibly be achieved. This demonstrates greater maturity and continued concern with improving its management processes."
The IG-SEST is an instrument of continuous monitoring of the governance level of the federal state-owned direct control companies of Brazil. It evaluates compliance with the requirements of Law 13303/2016 and the guidelines established in the Resolutions of the Interministerial Commission on Corporate Governance and Administration Corporate Partnerships (CGPAR), which seek to implement best market practices and a higher level of excellence in corporate governance.
The focus of the certification was the effectiveness regarding the implementation of the law that regulates the state. It evaluated and verified the implementation of the requirements required by the standard, such as training, the appointment of independent members in the Board of Directors, minutes of meetings of the Audit Committee and the Fiscal Council, internal controls, internal audits, risk management and more.
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